Ahmadabad : Adani Ports and Special Economic Zone Limited (APSEZ) on Tuesday reported 74 per cent decline in consolidated net profit to Rs 340.21 crore for the fourth quarter ended March 31. The country’s largest integrated logistics player had clocked consolidated net profit of Rs 1,314.19 crore in the corresponding period a year earlier, the company said.
Its consolidated total income marginally declined to Rs 3,360.17 crore for the fourth quarter as against Rs 3,492.72 crore in the year-ago period. Total expenses during the quarter under review rose to Rs 3,099.18 crore as against Rs 1,840.35 crore.
Adani Port SEZ CEO and Whole Time Director Karan Adani said “Our strategy to diversify and ability to handle all types of cargo enabled us to outperform and deliver another year of stellar operational and financial performance. In FY20, we added LNG and LPG into our cargo portfolio. We have also increased our logistics footprint by focusing on increasing connectivity to our ports through our own rakes, inland freight terminals, warehousing solutions and concentrating on end mile connectivity. This enables us to provide an integrated logistics service to our customers and bring them to our port gate.”